The above schemes are designed for migrant worker community who are not in a position to produce documents in support of income. This is a special project launched by SLBFE in collaboration withstate banks. Even if you are not in Sri Lanka, you can nominate a person with a Power of Attorney, to receive the loan amount on behalf of you. The following bank provide loan facilities on this scheme.
|Bank||Type of Loan||Amount of Loan||Settlement Period||Interest Rate|
|Rate paid by migrant worker||Rate paid by SLBFE against to the Loan|
1.Pre-departure for Middle East.
|3.Self Employment Loan||250,000/=||5 yrs||8%||8%|
|Bank of Ceylon||1.Pre-departure for Middle East.||50,000/=||2 yrs||Total interest|
|2.Housing Loan||300,000/=||5 yrs||5%||5%|
|3.Self Employment Loan||300,000/=||5 yrs||8%||8%|
|National Saving Bank||1.Pre-departure for Middle East.||50,000/=||18 months||8.5%||6.5%|
|Sarani Housing Loan||300,000/=||5 yrs||5%||5%|
State Mortgage& Investment bank
Eligibility: 1) Should be Registered with the SLBFE.Migrant Worker should make the request within the period of the work 2).Migrant Worker should have a NRFC (Non Residence Foreign Currency) account at Relevant Bankand should have at least US$ 500 in his/her NRFC account-(The bank have the right to get any Security like Mortgage over property, Two personal guaranties(if requires)